Cost Analysis and Formulation of Cost Models for Two-storey Buildings Construction in Malaysia

This paper will describe the ongoing research work which is aimed at producing a cost forecasting and planning model most representative of the building in Malaysia. Due to the limitation of data and time, the model is targeted for a particular type of building. Its techniques can however be expanded to other types of buildings. Data was collected from the two-storey residential building projects. Through the use of elemental cost analyses data, the interrelationships of building costs were simulated using the Monte Carlo techniques. The results obtained can form the basic guidelines in cost forecasting, planning, balancing, comparison and controlling of similar future projects.